Griffith - FARM TO PROFIT FARM BUSINESS UPDATE - GRDC

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Griffith - FARM TO PROFIT FARM BUSINESS UPDATE - GRDC
FARM TO PROFIT
FARM BUSINESS UPDATE

            Griffith
       Tuesday 10th August, 2021
              Coro Club
         20-26 Harward Road,
             Griffith NSW
             #GRDCUpdates

             2021 GRIFFITH GRDC FARM BUSINESS UPDATE

                            1
Griffith - FARM TO PROFIT FARM BUSINESS UPDATE - GRDC
2021 Griffith GRDC Farm Business Update planning committee
Richard Holznecht GRDC Grower Relations Manager                 Andrew Bomm           Progressive Agriculture

Toni Somes          GRDC Communications Manager North           Michael Ryan          Riverina Agriconsultants

Roy Hamilton        GRDC Northern Panel Member                  Andrew McFadyen McFadyen Ag Consulting

Lisa Castleman      Local Land Services NSW                     Jane Foster           ORM

Iva Quarisa         IREC                                        Belinda Cowburn       ORM

Carmen Quade        Agrifocused

                                    GRDC Farm Business Update
                                  proudly convened by ORM Pty Ltd.

                                                        46 Edward Street           T 03 5441 6176
                                                        PO Box 189                 E admin@orm.com.au
                                                        Bendigo VIC 3552           W orm.com.au

                     CAUTION: RESEARCH ON UNREGISTERED PESTICIDE USE
    Any research with unregistered pesticides or of unregistered products reported in this document does not
 constitute a recommendation for that particular use by the authors, the authors’ organisations or the management
  committee. All pesticide applications must accord with the currently registered label for that particular pesticide,
                                               crop, pest and region.

                                          DISCLAIMER - TECHNICAL
  This publication has been prepared in good faith on the basis of information available at the date of publication
  without any independent verification. The Grains Research and Development Corporation does not guarantee or
  warrant the accuracy, reliability, completeness of currency of the information in this publication nor its usefulness
                                               in achieving any purpose.
  Readers are responsible for assessing the relevance and accuracy of the content of this publication. The Grains
     Research and Development Corporation will not be liable for any loss, damage, cost or expense incurred or
                 arising by reason of any person using or relying on the information in this publication.
  Products may be identified by proprietary or trade names to help readers identify particular types of products but
 this is not, and is not intended to be, an endorsement or recommendation of any product or manufacturer referred
                   to. Other products may perform as well or better than those specifically referred to.

                                            2021 GRIFFITH GRDC FARM BUSINESS UPDATE

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Griffith - FARM TO PROFIT FARM BUSINESS UPDATE - GRDC
GRDC Farm Business Update
 GRIFFITH

Contents
 Griffith program		                                                                                     5

 Is 50% the new 70%? – exploring the role of equity in                        Brad Sewell,              7
 land acquisition                                                             Robinson Sewell

 Effective and efficient office management                                    Katherine Colbert,       15
                                                                              Partners In Ag

 WaterCan Profit – analysing water decisions across the seasons               Matthew Harrison,        23
                                                                              University of Tasmania

 Labouring the point                                                          Rebecca Fing,            29
                                                                              Housepaddock Training
                                                                              and Consulting

 Timing the leap into technology investment                                   Adrian Roles,            39
                                                                              AgTrak

 Hitting the sweet spot with machinery investment                             Ben White,               47
                                                                              The Kondinin Group

 GRDC Northern Regional Panel		                                                                        56

 GRDC Northern Region Key Contacts		                                                                   57

 Acknowledgements		59

 Evaluation form		                                                                                     61

                         On Twitter? Follow @GRDCNorth and use the
                         hashtag #GRDCUpdates to share key messages

                                    2021 GRIFFITH GRDC FARM BUSINESS UPDATE

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Griffith - FARM TO PROFIT FARM BUSINESS UPDATE - GRDC
Connect with us

                        Read about the latest research, R&D trials,
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                               groundcover.grdc.com.au

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                                                   sharing everything from the latest seasonal
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                                                   grdc.com.au/podcasts

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Grains Research and Development Corporation – Northern Office
P 214 Herries Street, Toowoomba QLD 4350 T +61 7 4571 4800 E northern@grdc.com.au

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P Level 4 | 4 National Circuit, Barton ACT 2600 | PO Box 5367, Kingston ACT 2604 T +61 2 6166 4500 E grdc@grdc.com.au
Griffith - FARM TO PROFIT FARM BUSINESS UPDATE - GRDC
GRDC Farm Business Update
 GRIFFITH

Program
 9.30 am    Announcements

 9.35 am    GRDC welcome

 9.40 am    Is 50% the new 70%? – exploring the role of equity in            Brad Sewell,
            land acquisition		                                               Robinson Sewell

 10.20 am   Effective and efficient office management                        Carmen Quade,
            		                                                               Agrifocused

 11.00 am   Morning tea

 11.30 am   WaterCan Profit – analysing water decisions across               Matthew Harrison,
            the seasons		                                                    University of Tasmania

 12.05 pm Labouring the point		                                              Esther Petrie,
 			                                                                         Agrifocused

 12.45 pm   Lunch

 1.45 pm Timing the leap into technology investment                          Adrian Roles,
 			                                                                         AgTrak

 2.30 pm    Hitting the sweet spot with machinery investment                 Michael Ryan,
            		                                                               Riverina Agriconsultants

 3.10 pm    Wrap up and evaluation

 3.15 pm    Close

                                   2021 GRIFFITH GRDC FARM BUSINESS UPDATE

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Griffith - FARM TO PROFIT FARM BUSINESS UPDATE - GRDC
PREDICTA® B
                                                       NORTHERN REGION*

KNOW BEFORE YOU SOW                                                *NORTHERN NSW AND QUEENSLAND

Cereal root diseases cost grain growers in excess of $200 million
annually in lost production. Much of this loss can be prevented.
Using PREDICTA® B soil tests and advice from your local accredited agronomist,
these diseases can be detected and managed before losses occur. PREDICTA® B
is a DNA-based soil-testing service to assist growers in identifying soil borne
diseases that pose a significant risk, before sowing the crop.
Enquire with your local agronomist or visit
http://pir.sa.gov.au/research/services/molecular_diagnostics/predicta_b

Potential high-risk paddocks:                There are PREDICTA® B tests for
■ Bare patches, uneven growth,               most of the soil-borne diseases of
  white heads in previous crop               cereals and some pulse crops:
■ Paddocks with unexplained poor yield       ■ Crown rot (cereals)
  from the previous year                     ■ Rhizoctonia root rot
■ High frequency of root lesion              ■ Root lesion nematodes
  nematode-susceptible crops,                ■ Yellow leaf spot
  such as chickpeas
                                             ■ Common root rot
■ Intolerant cereal varieties grown
                                             ■ Pythium clade f
  on stored moisture
                                             ■ Charcoal rot
■ Newly purchased or leased land
                                             ■ Ascochyta blight of chickpea
■ Cereals on cereals
                                             ■ Sclerotinia stem rot
■ Cereal following grassy pastures
                                             ■ Long fallow disorder
■ Durum crops (crown rot)
                                             ■ Phytophthora root rot
                                             ■ Fusarium stalk rot
                                             ■ White grain disorder
                                             ■ Sclerotinia stem rot

                                                                     CONTACT:
                                                                     Rob Long
                                                                     lab@crownanalytical.com.au
                                                                     0437 996 678
Griffith - FARM TO PROFIT FARM BUSINESS UPDATE - GRDC
Is 50% the new 70%? For equity to debt ratio
Brad Sewell.
Robinson Sewell Partners.

   Key Messages:
    Balance sheets remain dominated by property values.
    Values are driven by a reduction in arable land; the relative value of Australian land versus rest of
     world; and continued demand from existing farmers and new entrants.
    Banks are supportive of land acquisition if the historical and projected cashflow can service the
     additional debt.
    Equity can drop to circa 45-50% post land purchase with a return target of 65% within 3-5 years.
    ‘Cashflow is King’ in the bank credit assessment process.

Figure 1. Australian median property prices and transactions 1995 to 2020 (Source: Rural Bank Australian
Farmland Values Report 2021).

Introduction
   Balance sheets have strengthened over history predominantly via land value appreciation as opposed
to operating returns. Some of our clients spend as much time managing their asset base as they do their
business enterprises due to the scale and value of the assets.
  Rural land in Australia has a relatively consistent value appreciation of circa 8% per annum. Operating
profit and losses as a percentage of land value can swing from -15% to +25%.
   A sample of client balance sheets indicates that land makes up around 70% to 80% of total asset value.
Upward land value movements have allowed for the leveraging of debt to buy more land at even higher
prices. Which for the past 26 years has been underpinned by continued land price rises.

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Griffith - FARM TO PROFIT FARM BUSINESS UPDATE - GRDC
Background
   The financial resilience to withstand poor seasons is underpinned by the equity in the farm business,
represented by assets that can be realised or leveraged to provide cashflow support when it is needed. As
an industry agriculture and particularly agricultural producers have higher levels of equity in their business
compared with other industries. This provides a measure to support risk management against poor
seasons. A single poor season will be withstood by drawing on resources within the business and support
from lenders to meet the cashflow needs of the business. The higher the equity ratio in the business the
more “poor seasons” it would reasonably be capable of withstanding.
   Lenders have traditionally relied on the value of farming land to provide ongoing financial support to
farming business when it was required. With the recent steep appreciation in land values over the past 18
months land acquisitions have utilised leverage and gearing to fund the acquisitions. It would be reasonable
to suggest that the lenders are taking a pragmatic approach to the rapid appreciation in values and will
apply a level of conservatism to the current market values. Where we might see 50% equity at the current
land values a lender may take a more conservative measure in the value ascribed to land on a per hectare
basis which would translate to a lower equity ratio in their analysis. Further the future rate of increase in land
prices holds a significant level of uncertainty when compared against the rapid appreciation of the past 24
months. This uncertainty could feed into further caution by lenders in their approach to gearing within farm
business over the short to medium term.
  There seems to be a system in banking where cashflows can be based on historical long term average
seasonal conditions and commodity prices and in the event of a ‘hiccup’ in the season and/or prices, the
banks have established systems in place to support customers. The trick for borrowers is to remain within
the band that allows the bank to provide support during difficult times. Falling outside the band is like being
the wildebeest at the back of the herd with a pride of lions in pursuit.

  My follow up questions for the speaker;

Why working on this could be great for your farming business
  • Treat land value appreciation as a wealth generator worthy of having its own management and
    growth strategy.
  • Your ability to repay debt from cashflow is the key consideration for a bank. Your forecasts will be
    viewed through the lens of what your business and the industry has achieved historically, as well as the
    current seasonal conditions and commodity prices you are facing now.
  • Excessive under or over forecasting the outcomes in your cashflow has negative implications for your
    ability to borrow.

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Griffith - FARM TO PROFIT FARM BUSINESS UPDATE - GRDC
Self-evaluation
  What parts of your business do you spend most time thinking about?

  Do you look at the accountant prepared profit and loss statements each year?

  Are you comfortable and confident in preparing a cashflow forecast?

We want to work on this in our business, what should we do next?
  • Do a historical analysis of your assets and liabilities to see the trends in land values, debt, equity etc.
    Sometimes a growing net asset base can offset the cashflow ‘blues’ in a poor season.
  • Ensure your cashflow forecasts align with current prices and your historical production (e.g. tonnes/ha
    crop yield; kg’s/hd/wool). Consider using commodity prices more aligned with the ten-year average
    (for better or worse).

                                         2021 GRIFFITH GRDC FARM BUSINESS UPDATE

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Griffith - FARM TO PROFIT FARM BUSINESS UPDATE - GRDC
Our First Action

  Our Second Action

Want to learn more, here are some suggestions:
 • Keep attending seminars to continue learning and networking or listen to podcasts relating to business
   management principles.
 • Communicate at all levels with your peers and mentors.
 • Scour the internet for new domestic and international content.

References;
 • Australian Farmland Values (2021) – Rural Bank Report

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More about Brad . . .
                        Brad Sewell has over 18 years rural lending experience as a bank
                        manager along with a further 12 years rural lending experience as an
                        adviser to borrowers. Brad co-own 8,500 acres at Nyngan including 3,500
                        acres of farming country. Along with his interests in agriculture Brad’s
                        business ventures include co-ownership of a defence technology business
                        in Brisbane along with other diverse business activities.

Contact details: Website: www.robinsonsewell.com.au
                 Phone: 0427 390 016
                 Email: brad@robinsonsewell.com.au

                                  2021 GRIFFITH GRDC FARM BUSINESS UPDATE

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Notes

        2021 GRIFFITH GRDC FARM BUSINESS UPDATE

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Notes

        2021 GRIFFITH GRDC FARM BUSINESS UPDATE

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Get the latest stored grain information online

                               storedgrain.com.au
    storedgrain
    information hub                                             Home   About         Information Hub                         Workshops        More Info

                                                                                                                                                NATIONAL
                                                                                                                                                 June 2020

                                                                               GROWNOTES™

      The complete manual for
         on-farm grain storage
                                                                               GRAIN STORAGE
                                                                               GRAIN STORAGE — PLANNING AND    PREVENTING INSECT PESTS FROM
                                                                               PURCHASING                      ENTERING GRAIN STORAGE
                                                                               ECONOMICS OF ON-FARM STORAGE    MANAGING INSECT PESTS IN
                                                                               SAFETY AROUND GRAIN STORAGE     STORED GRAIN

                                                                               GRAIN STORAGE INSECT PEST       MANAGING HIGH-MOISTURE
                                                                               IDENTIFICATION AND MANAGEMENT   GRAIN

                 Call the National Grain Storage Information
                 Hotline 1800 WEEVIL (1800 933 845) to speak
                 to your local grain storage specialist for advice
                 or to arrange a workshop.

www.grdc.com.au I www.storedgrain.com.au I 02 6166 4500
Efficient and effective office management strategies
Katherine Colbert.
Partners in Ag.

   Key Messages:
    Every farm business is unique, and the farm office is no different – finding best fit for systems and
     procedures for your situation is important
    Take a time audit on your day/s in the office – how/when do you work best?
    Going paperless? Start small and schedule time away from other office tasks to work on it
    The ATO has great resources for record keeping and compliance regulations.

Introduction
  • Effective use of time: It is important to understand how you work most effectively. Spending a day
    auditing your time in the office will reveal how much of your day is procrastinating, interruptions and
    productive time. Break your time into 15- or 30-minute increments (using your phone alarm, countdown
    timer) and take notes of what you are doing at every interval.
  • Roadblocks to productivity: You will encounter productivity roadblocks during your time in the office.
    There are several strategies you can implement to reduce these roadblocks, including removing
    notifications and distractions from the office, scheduling your day the night before and prioritising your
    tasks using the Eisenhower Matrix.
  • Paper filing systems: There is no one size fits all, so your paper filing system must be functional for
    you and your business. Your system needs to be consistent, particularly when using your naming and
    numbering structures.

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• Going paperless: If you are just starting out, make it easy and do-little bits at a time. Start with four
   folders – add as many sub-folders as you need.
 • Record keeping and compliance: The same record-keeping principles and practices apply, regardless
   of whether you use paper or paperless systems. Ensure your processes meet the ATO requirements.

Content

                                        2021 GRIFFITH GRDC FARM BUSINESS UPDATE

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My follow up questions for the speaker;

Why working on this could be great for your farming business
  • More effective use of your time in the office
  • Less time in the office and more time in the yards and with your family
  • Confidence to commence or continue towards a Paperless Office

Self-evaluation
  Do you dread your time in the office, or do you put it off every month?

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Is that stack of paperwork on your desk getting bigger? Your email inbox out of control?

 Want to go paperless, but not sure where to start?

 If you weren’t available, could someone easily find what they’re looking for in your filing system?

We want to work on this in our business, what should we do next?
 • Time Management Audit – How and when do you work best? Restructure your day around this
 • Streamline your processes utilising technology, apps and go paperless
 • Book a workshop with Partners in Ag!

Want to learn more, here are some suggestions;
 • ATO website, webinars and podcasts on effective record keeping
   (https://www.ato.gov.au/Business/Record-keeping-for-business/)

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References and/or acknowledgements;
 • GRDC – funding the original workshop ‘Farm Office Efficiencies’ and ‘Office Sanity’
 • Eisenhower’s Matrix

                           More about Katherine . . .
                           Katherine is the Business Development Officer for Partners in Ag,
                           delivering quality professional learning opportunities to farmers and rural
                           communities in a range of topics such as farm safety, succession planning,
                           financial management and office management.
                           Katherine has over 13 years’ experience in marketing, advertising, and
                           project management and business planning in both the public and private
                           sectors and is passionate about sharing her knowledge and skills with the
                           agriculture industry.
  A self-confessed list-maker, Katherine holds positions on several local and regional boards and
  committees across sport and health-related organisations. Living in Nhill in the Wimmera with her
  husband and son, Katherine enjoys helping on the mixed-enterprise family farm both in the yards
  and in the office – wherever she’s needed at the time!

 Contact details: Website: www.partnersinag.org.au
                  Phone: 0409 527 041
                  Email: business@partnersinag.org.au
                  Twitter handle: PartnersinAg1

                                      2021 GRIFFITH GRDC FARM BUSINESS UPDATE

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Notes

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Notes

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Choose all products in the tank mix carefully,
               which includes the choice of active ingredient, the
               formulation type and the adjuvant used.

               Understand how product uptake and translocation
               may impact on coverage requirements for the target.
               Read the label and technical literature for guidance on
               spray quality, buffer (no-spray) zones and wind speed
               requirements.

               Select the coarsest spray quality that will provide an
               acceptable level of control. Be prepared to increase

TOP
               application volumes when coarser spray qualities are
               used, or when the delta T value approaches 10 to
               12. Use water-sensitive paper and the Snapcard app

10
               to assess the impact of coarser spray qualities on
               coverage at the target.

               Always expect that surface temperature inversions will
               form later in the day, as sunset approaches, and that
               they are likely to persist overnight and beyond sunrise
               on many occasions. If the spray operator cannot
               determine that an inversion is not present, spraying
               should NOT occur.

               Use weather forecasting information to plan the
               application. BoM meteograms and forecasting websites
               can provide information on likely wind speed and
               direction for 5 to 7 days in advance of the intended

TIPS
               day of spraying. Indications of the likely presence of a
               hazardous surface inversion include: variation between
               maximum and minimum daily temperatures are greater
               than 5°C, delta T values are below 2 and low overnight
               wind speeds (less than 11km/h).

               Only start spraying after the sun has risen more
               than 20 degrees above the horizon and the wind
               speed has been above 4 to 5km/h for more than 20
               to 30 minutes, with a clear direction that is away from

FOR REDUCING
               adjacent sensitive areas.

SPRAY DRIFT
               Higher booms increase drift. Set the boom height
               to achieve double overlap of the spray pattern, with
               a 110-degree nozzle using a 50cm nozzle spacing
               (this is 50cm above the top of the stubble or crop
               canopy). Boom height and stability are critical. Use
               height control systems for wider booms or reduce the
               spraying speed to maintain boom height. An increase
               in boom height from 50 to 70cm above the target can
               increase drift fourfold.

               Avoid high spraying speeds, particularly when ground
               cover is minimal. Spraying speeds more than 16 to
               18km/h with trailing rigs and more than 20 to 22km/h
               with self-propelled sprayers greatly increase losses
               due to effects at the nozzle and the aerodynamics of
               the machine.

               Be prepared to leave unsprayed buffers when the
               label requires, or when the wind direction is towards
               sensitive areas. Always refer to the spray drift restraints
               on the product label.

               Continually monitor the conditions at the site of
               application. Where wind direction is a concern move
               operations to another paddock. Always stop spraying if
               the weather conditions become unfavourable.
               Always record the date, start and finish times, wind
               direction and speed, temperature and relative humidity,
               product(s) and rate(s), nozzle details and spray system
               pressure for every tank load. Plus any additional record
               keeping requirements according to the label.
WaterCan Profit: more profit per megalitre
of irrigation
Matthew Harrison.
Tasmanian Institute of Agriculture, University of Tasmania.

   Key Messages:
    WaterCan Profit is a free, online calculator designed with and for Australian irrigated
     crop farmers.
    WaterCan Profit helps people decide what crops to sow, how much water to apply, how profit
     varies with water and grain price, and what types of irrigation infrastructure are more profitable
     for their farm.
    WaterCan Profit can be adapted to any grains farm, regardless of soil or climate type, or
     farming system.

Introduction
  WaterCan Profit is a simple economic calculator designed to help farmers maximise either $/ha or $/ML.
   There has been little previous effort put into comparisons of irrigation infrastructure investment. WaterCan
Profit is designed to calculate payback time and future wealth generated from a range of irrigation
infrastructure options (e.g., surface, drip, overhead lateral, pivot).
  The WaterCan Profit calculator helps users systemically compare the profitability of irrigated and rainfed
crops, accounting for variable grain and water prices, costs, water use and seasonal climatic outlook. Users
can enter any crop or soil type. Long-term rainfall and seasonal climatic conditions are also considered.
   The calculator is not designed for within-season irrigation scheduling (how much irrigation to apply within
season) but is intended to aid crop sowing choices at the start of the cropping season. Risk and uncertainty
in markets and climatic conditions are accounted for in the interface.
  This presentation demonstrates the free calculator, WaterCan Profit.

Why working on this could be beneficial for your farming business
  Planning and analysing your water investment with the WaterCan Profit tool could contribute to:
  • improved profitability of irrigated crops.
  • informed decision making, for example:
    - Should you be focussing on $/ha, $/ML or total dollars?
    - At what point should irrigation farmers become water traders? What is the water price at which
      growers should NOT irrigate crops?
  • a framework for analysis. That is, a short time invested in methodical planning of your cropping
    and irrigation decisions (around ten minutes), could result in additional returns (potentially thousands
    of dollars).

                                         2021 GRIFFITH GRDC FARM BUSINESS UPDATE

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My follow up questions for the speaker;

Self-evaluation
  As a farm business, how do you rate your planning and decision making out of ten in the following areas?
  1 being the lowest score (performance is poor) and ten being the highest (performance is excellent) – 5
  would represent rating yourself as adequate with opportunity for improvement.

  		                                                                  1   2      3   4   5   6   7   8   9   10

  Deciding what crops to sow in any given year

  Deciding what crops should be irrigated, and

  Deciding how much water should be applied

  Have you ever considered comparing the returns on your current irrigation infrastructure with that of a
  different irrigation system? Y / N

  List any key areas for review in your Farm Business

We want to work on this in our business, what should we do next?
  • For more information review the GRDC Update paper and/or YouTube videos detailed in the next
    section.
  • For a free demonstration of the WaterCan Profit calculator or to request access, email Matt at the
    contact details provided.
  • Examine your current system using the WaterCan Profit calculator, are there opportunities for
    improving profitability?

                                       2021 GRIFFITH GRDC FARM BUSINESS UPDATE

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Our First Action

  Our Second Action

Want to learn more, here are some suggestions:
  • For more detailed case studies read the July 2020 GRDC update paper, ‘Optimising use of limited
    irrigation water on grain crops’
  https://grdc.com.au/resources-and-publications/grdc-update-papers/tab-content/grdc-update-
  papers/2020/07/optimising-use-of-limited-irrigation-water-on-grain-crops-getting-the-biggest-bang-per-
  megalitre
  • Watch the YouTube videos:
    - WaterCan Profit overview
    - Simple methods for increasing profitability
    - Whole farm planning
    - Irrigation infrastructure investment
  • Help with the WaterCan Profit tool is available. Contact matthew.harrison@utas.edu.au for a free
    personalised demonstration. New users and feedback on the interface are welcome.
  • A PDF of slides from this presentation can be provided to you on request of ORM.

Acknowledgements
  We thank the GRDC for funding the Optimising Irrigated Grains RD&E programme. We also thank our
partners Southern Growers Inc, the University of Queensland, SARDI and CSIRO and we thank the farmers,
agronomists and ag-tech developers for their input on the calculator to date.

                                        2021 GRIFFITH GRDC FARM BUSINESS UPDATE

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More about Matt . . .
                          Associate Professor Matthew Harrison is based at the Tasmanian Institute
                          of Agriculture. Matt has more than 20 years’ experience in co-designing
                          sustainable solutions with farmers, service providers and the agricultural
                          sector more broadly. He has been internationally recognised for his work
                          on climate change adaptation and agricultural sustainability by the IPCC
                          and the Australian Academy of Science.
                      Matt’s team develop systems-based solutions that account for both
                      technological aspects and interactions between crops and soils as
influenced by management and climate. Much of this work centres on reducing risk and improving
economic resilience.
Fundamental to the team is the development of mobile apps, decision-support tools and disruptive
technologies; these innovations are designed with and for farmers, agronomists and other
agricultural stakeholders. These technologies reduce farm costs, improve the timeliness of farm
management, improve soil carbon and aid whole farm planning.
Matt leads GRDC-funded research to raise the profitability of irrigated cropping systems across
Australia by helping people make more strategic decisions on crop selection, use (or disuse) of
irrigation, crop rotations and investment in irrigation infrastructure.
Matt is very interested in helping to improve the profitability and sustainability of the grain sector.

Contact details: Tasmanian Institute of Agriculture, University of Tasmania
                 16-20 Mooreville Rd, Burnie TAS 7320
                 www.utas.edu.au/profiles/staff/tia/matthew-harrison
                 0437 655 139
                 matthew.harrison@utas.edu.au
                 Twitter: @m8harrison
                 ResearchGate: www.researchgate.net/profile/Matthew-Harrison-5
                 LinkedIn: www.linkedin.com/in/matthew-harrison-70383782/?originalSubdomain=au

                                      2021 GRIFFITH GRDC FARM BUSINESS UPDATE

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Notes

        2021 GRIFFITH GRDC FARM BUSINESS UPDATE

                      27
The GRDC’s Farming the Business manual is for farmers and
advisers to improve their farm business management skills.
It is segmented into three modules to address
the following critical questions:
      Module 1: What do I need to know about business to
                manage my farm business successfully?
      Module 2: Where is my business now and where
                do I want it to be?
      Module 3: How do I take my business to the next level?
The Farming the Business manual is available as:
 Hard copy – Freephone 1800 11 00 44 and quote Order Code: GRDC873
  There is a postage and handling charge of $10.00. Limited copies available.
 PDF – Downloadable from the GRDC website – www.grdc.com.au/FarmingTheBusiness
  or
 eBook – Go to www.grdc.com.au/FarmingTheBusinesseBook for the Apple iTunes
  bookstore, and download the three modules and sync the eBooks to your iPad.

                                                                  Module 1                                 Module 2                                   Module 3

                                         Mike Krause                               Mike Krause                               Mike Krause

            grdc.com.au

Level 4, 4 National Circuit, Barton ACT 2600 | PO Box 5367, Kingston ACT 2604 | T +61 2 6166 4500 | F +61 2 6166 4599 | E grdc@grdc.com.au | W www.grdc.com.au
Employer of choice? Or employer of last resort?
Rebecca Fing
House Paddock Training and Consulting

   Key Messages:
    Business owners and managers who have clarity of direction, set and communicate realistic
     expectations and actively manage their team are those who are most likely to not only attract the
     cream of the crop, but also keep them!
    Employers of choice show the following five focus areas:
      1. Ensure business objectives and direction is crystal clear.
      2. Acknowledge the value of staff and that times have changed… and mould
         business accordingly!
      3. Have well thought-out workforce planning and recruiting processes.
      4. Provide a professional, compliant workplace.
      5. Actively manage their team… set expectations and communicate well!

Introduction
  These days, good people are hard to find!
   One of the most competitive elements in broadacre farming is attracting the right people and to attract
the cream of the crop we need to be on our game. In addition, times have changed, and employees don’t
walk over hot coals for a job anymore. Employers need to meet the candidate in the middle or risk NOT
attracting the right people.

                                        2021 GRIFFITH GRDC FARM BUSINESS UPDATE

                                                      29
It is essential that employers take a proactive approach to planning their workforce and recruiting
quality staff. This includes ensuring the right people are in the right jobs and positions are well defined
and appropriate. Once a team is assembled, no one can rest on their laurels! Meeting operational and
legal compliance requirements is a requirement and running a professional and engaging operation is
a must.

   Business owners and managers who have clarity of direction, set and communicate realistic
expectations and actively manage their team are those who are most likely to not only attract the cream
of the crop, but also keep them!

Employers of choice
  The top 5 focus areas of employers of choice:
  1. Ensure business objectives and direction is crystal clear.
  2. Acknowledge the value of staff and that times have changed… and mould business accordingly!
  3. Have well thought-out workforce planning and recruiting processes.
  4. Provide a professional, compliant workplace.
  5. Actively manage their team… set expectations and communicate well!
  This session will refine the key areas of focus and give you practical tips to develop and strengthen
your business as an employer of choice.

  My follow up questions for the speaker;

Why working on this could be great for your farming business
  • Increased productivity due to consistent, engaged staff.
  • Increased compliance and reduced business risk.
  • Increased staff satisfaction and reduced owner/manager stress!

                                         2021 GRIFFITH GRDC FARM BUSINESS UPDATE

                                                       30
Self-evaluation
  Is workforce planning a priority for you? Y / N

  Why? / Why not?

  What systems do you have in place to attract and retain staff?

  As a farm business, how do you rate yourself out of ten in the following areas/

  		                                                                    1   2      3   4   5   6   7   8   9   10

  Business objectives and direction is crystal clear

  Acknowledge the value of staff and that times have changed…
  and mould business accordingly!
  Have well thought-out workforce planning and
  recruiting processes

  Provide a professional, compliant workplace

  Actively manage your team… setting expectations and
  communicating well!

  What are your key areas for improvement?

                                         2021 GRIFFITH GRDC FARM BUSINESS UPDATE

                                                       31
How well is your business meeting legislative requirements in terms of staff management?

 Not well                                                                                   Very well

 List any priority areas for review

We want to work on this in our business, what should we do next?
 • Ensure roles and responsibilities of individuals in your business are clearly defined.
 • Review staff compliance and ensure legislative requirements are met.
 • Prioritise workforce planning!

  Our First Action

  Our Second Action

                                       2021 GRIFFITH GRDC FARM BUSINESS UPDATE

                                                     32
Want to learn more, here are some suggestions;
 • READ: Winning the War for Talent: how to attract and keep the people who make your business
   profitable, Mandy Johnson.
 • www.peopleinag.com.au
 • www.fairwork.gov.au

                          More about Rebecca . . .
                          Rebecca Fing of House Paddock Training and Consulting has been
                          helping farming businesses provide a safer more productive work
                          environment for over 15 years. Based in Goondiwindi, Rebecca provides
                          WHS and HR consulting services to farmers and small business. Having
                          been on over 600 farms from Emerald to the Adelaide Hills, Rebecca has
                          seen it done well (and not so well!) and loves sharing what she has seen
                          and learnt along the way.
                         Bec runs accredited and non-accredited training programs for
  HR & WHS for farmers and small businesses and she has recently launched an online delivery
  platform for WHS.

 Contact details: 70 Macintyre Street, Goondiwindi QLD
                  www.housepaddocktraining.com.au
                  0427 107 234
                  housepaddock@bigpond.com

                                    2021 GRIFFITH GRDC FARM BUSINESS UPDATE

                                                  33
Notes

        2021 GRIFFITH GRDC FARM BUSINESS UPDATE

                      34
Notes

        2021 GRIFFITH GRDC FARM BUSINESS UPDATE

                      35
The WeedSmart

                                                        Big 6
                                            Weeding out herbicide resistance in winter
                                                 & summer cropping systems.

     The WeedSmart Big 6 provides practical ways for farmers to fight herbicide resistance.
     How many of the Big 6 are you doing on your farm?
     We’ve weeded out the science into 6 simple messages which will help arm you in the war against weeds.
     By farming with diverse tactics, you can keep your herbicides working.

                                                                                                                                         Implement Harvest Weed
Rotate Crops & Pastures                     Increase Crop Competition
   Crop and pasture rotation
                                                                                                                                               Seed Control
                                                    Stay ahead of the pack                                                                 Capture weed seed survivors
   is the recipe for diversity
                                             Adopt at least one competitive strategy (but
  Use break crops and double break                                                                                                       Capture weed seed survivors at harvest
                                             two is better), including reduced row
  crops, fallow & pasture phases to drive                                                                                                using chaff lining, chaff tramlining/decking,
                                             spacing, higher seeding rates, east-west
  the weed seed bank down,                                                                                                               chaff carts, narrow windrow burning, bale
                                             sowing, early sowing, improving soil fertility
  In summer cropping systems use                                                                                                         direct or weed seed impact mills.
                                             & structure, precision seed placement, and
  diverse rotations of crops including       competitive varieties.
  cereals, pulses, cotton, oilseed crops,                                                      Stop Weed Seed Set
  millets & fallows.                                                                                Take no prisoners

                                                                                              Aim for 100% control of weeds and
                                                                                              diligently monitor for survivors in all
                                                                                              post weed control inspections,
                                                                                              Crop top or pre-harvest spray in crops
                                                                                              to manage weedy paddocks,
                                                                                              Consider hay or silage production,
                                                                                              brown manure or long fallow in high-
                                                                                                                                         WeedSmart Wisdom
                                                                                              pressure situations,
                                                                                                                                         Never cut the herbicide rate – always
                                                                                              Spray top/spray fallow pasture prior to
                                                                                                                                         follow label directions
                                                                                              cropping phases to ensure a clean start
                                                                                                                                         Spray well – choose correct nozzles,
                                                                                              to any seeding operation,
                                                                                                                                         adjuvants, water rates and use reputable
                                                                                              Consider shielded spraying, optical
                                                                                                                                         products,
                                                                                              spot spraying technology (OSST),
                                                                                                                                         Clean seed – don’t seed resistant weeds,
                                                                                              targeted tillage, inter-row cultivation,
                                                       Double Knock                           chipping or spot spraying,
                                                                                                                                         Clean borders – avoid evolving resistance
                                                                                                                                         on fence lines,
                                            Preserve glyphosate and paraquat                  Windrow (swath) to collect early
                                                                                                                                         Test – know your resistance levels,
                                                                                              shedding weed seed.
Mix & Rotate Herbicides                         Incorporate multiple modes of action
                                                in the double knock, e.g. paraquat or
                                                                                                                                         'Come clean. Go clean' – don't let weeds
  Rotating buys you time,                                                                                                                hitch a ride with visitors & ensure good
                                                glyphosate followed by paraquat +                                                        biosecurity.
  mixing buys you shots.                        Group 14 (G) +
                                                pre-emergent herbicide
 Rotate between herbicide groups,
                                                Use two different weed control tactics
 Mix different modes of action within
                                                (herbicide or non-herbicide) to control
 the same herbicide mix or in
                                                survivors.
 consecutive applications,
 Always use full rates,
 In cotton systems, aim to target both
 grasses & broadleaf weeds using
 2 non-glyphosate tactics in crop &
 2 non-glyphosate tactics during the
 summer fallow & always remove any
 survivors (2 + 2 & 0).
Download our latest Harvest Weed Seed
Control Cost Calculator on the HWSC
page of the Big 6!
weedsmart.org.au/big-6

COST OF
HARVEST WEED
SEED CONTROL
CALCULATOR

  Keep up to date by following us via our social
             media & our website!
      @WeedSmartAU          weedsmart@uwa.edu.au
      @WeedSmartAU          www.weedsmart.org.au
Ag Technology Investment - early adopter or late to
the party?
Adrian Roles.
AgTrak.

   Key Messages:
    When making an investment in agricultural technology (ag tech) it is important that an analysis of
     investment be made. This analysis is best done in a whole-farm context as you would with any
     other agricultural investment.
    Analysis of ag tech investments should include the following considerations: environmental,
     professional satisfaction, social, obsolescence time frame, compatibility to existing and future ag
     tech, productivity, efficiency gains and economic gains.
    You should also consider investment in ag tech as a potential risk management tool in your
     farming business.
    It is also important to conduct your own research and analysis of ag tech products and services
     as information from ag tech providers tends to be inflated due to the use of generic and
     simplified economic analysis.

Introduction
   Farmers are frequently challenged in being able to make informed decisions on when and what to
invest in, when it comes to ag tech. This is because the profitability of ag tech will vary, not only farmer to
farmer but also from paddock to paddock. The interoperability of a new ag tech purchase and the future
obsolescence of any ag tech investment can also be difficult to determine. This can make assessing ag
tech investments difficult, but with a little thought and work a farmer can determine the return and risk of
investing in ag tech.

Content
   Due to the difficulty in determining an accurate return on investment, it is important that farmers go
through a proper decision-making process when considering investing in any new ag tech for their
farming businesses.

                                          2021 GRIFFITH GRDC FARM BUSINESS UPDATE

                                                        39
The first question a farmer should ask themselves before investing in ag tech is, have I achieved a
suitable level of return from my existing investments? This could be, have I maximised my returns on
what I am already doing? Or could I improve on my current level of return, for example can I improve
my agronomy? Is my operational timing good? Is my existing equipment and tech being used to its full
capability? If the answer to these is yes, then a farmer may wish to look at further investments, possibly in
ag tech.
   When considering investing in ag tech a farmer also needs to ask themselves, does this ag tech support
my goals and objectives for my business? If a farmer has not outlined the goals and objectives, they expect
to achieve, it is important that they develop these before investing. An example could be, I have the goal
of land stewardship through sustainable land practices to ensure future profitability for my farm business
or I want to reduce summer weed escapes and increase spraying efficiencies. Whatever your goals or
objectives are, if you think there is a potential ag tech investment that supports them, it is important to follow
a logical decision-making process.
  The key to making the most informed investment decision in ag tech is to use a logical process. Such as
the seven-step process outlined below.
  1)   Identify the problem or opportunity.
  2) Identify the alternative solutions.
  3) Collect all data and information.
  4) Analyse the alternatives and determine a decision.
  5) Implement the decision.
  6) Monitor the results.
  7) Accept the responsibility for making the decision.

   It is important to note that when evaluating ag tech for possible investment, steps 3 and 4 in the decision-
making process can be the most challenging due to lack of independent and trustworthy sources of
information and data. It is important to understand that most return-on-investment information on ag tech
from agricultural tech providers is derived from generic simplified economic modelling.
  Below are other non-economic considerations that a farmer may want to consider as part of step 3 and 4.
  1.   Interoperability: It is also Important to consider how any new ag tech investment will fit into existing
       machinery operations, hardware, and software.
  2. Obsolescence: Most farmers realise that ag tech is changing at a rapid pace It is important to
     understand and plan for any ag tech investment becoming obsolete. By not planning for this a farmer
     may risk losing valuable time, data and encounter unforeseen expenses.
  3. Risk management: Ag tech has the potential to be used for risk management. The main five risks that
     farmers face: production risk, price/market risk, legal risk, personal risk, and financial risk.
  People: Is it an investment that will be professionally satisfying and rewarding to the investee? What is the
learning curve with the new technology? A farmer’s time is valuable, it can be costly to learn new ag tech
and implement successfully.
   Automated vs data intensive technology: Automated ag technologies, like auto section control or auto
steer, if it meets a need can potentially have near immediate ROI and can be readily used by most farmers.
Data intensive technologies, such as NDVI and yield data, require additional skills to be used effectively,
resulting in hard to estimate the ROI.
  Environmental and social: Ag tech may also have environmental and social benefits that are hard to
quantify but worth considering.
   When assessing ag tech investment, wide variations in outcomes are possible. This is due to many
farmers and their farm businesses having different goals and objectives. The resulting return on ag tech
investment by its nature are farmer specific, farm specific and paddock specific. For example, an ag tech
investment may be economically profitable but may not align with business goals or be feasible to the

                                           2021 GRIFFITH GRDC FARM BUSINESS UPDATE

                                                         40
farmer, due to any of the above-mentioned considerations. Therefore, Investment in ag tech may require
thinking deeper than a direct economic analysis of the ag tech investment to maximise the full benefits that
an ag tech investment may offer.

Why working on this could be great for your farming business
  • Potential increase in profitability.
  • Improved management decisions.
  • Professional satisfaction.
  • Potential increased ability to manage risk.

Self-evaluation
  Before investing in ag tech, have I fully utilised existing production and ag tech opportunities?

  Do you have clearly defined goals you want to achieve by investing in ag tech? What are they?

  Do I, or am I willing to invest or employ someone with skills and knowledge to manage and implement my
  ag tech investments?

                                           2021 GRIFFITH GRDC FARM BUSINESS UPDATE

                                                         41
We want to work on this in our business, what should we do next?
 • Review existing ag tech investments, align any new investment to your goals.
 • Conduct an appropriate decision-making framework and analyse the ag tech for each unique
   circumstance and farm attribute.
 • Use correct analysis techniques for ag tech investing such as net present value, internal rate of return,
   partial budgeting, or whole farm planning.

Want to learn more, here are some suggestions.
 • Extension Aus Precision Agricultural community of practice.
   https://extensionaus.com.au/precisionag/home
 • The economics of precision agriculture, GRDC Project code: RDP00013,
   https://grdc.com.au/resources-and-publications/grdc-update-papers/tab-content/grdc-update-
   papers/2017/02/the-economics-of-precision-agriculture
 • Profit from precision agriculture, GRDC Project Code: 9176123,
   https://grdc.com.au/profit-for-precision-agriculture
 • D.K. Shannon, D.E Clay, N.R Kitchens (2018) Precision Agriculture basics.
   American Society of Agronomy.
 • B. Whelan and J.Taylor (2013) ‘Precision agriculture for grain production systems’. (CSIRO publishing)

  Our First Action

  Our Second Action

                                       2021 GRIFFITH GRDC FARM BUSINESS UPDATE

                                                     42
References;
 • D.K. Shannon, D.E Clay, and N.R Kitchens (2018) ‘Precision Agriculture basics.’ American Society of
   Agronomy.
 • B. Whelan and J. Taylor (2013) ‘Precision agriculture for grain production systems.’ (CSIRO publishing)
 • R. Kay, W. Edwards and P. Duffy (2004) ‘Farm Management 5th ed’. (McGraw Hill publishing)
 • C. Colins (2017) Microsoft excel: Ways to calculate a rate of return.
   https//www.journal of accountancy.com/issues/2017/feb/calculate-rate-of-return-in-excel.html.
 • T.W. Griffin, J. Lowenberg-DeBoer, D.M. Lambert, J. Peone, T. Payne and S.G Daberkow (2004)
   Adoption, profitability and making better use of precision farm data. Dept of Agricultural economics,
   Purdue University, West Lafayette, IN

                           More about Adrian . . .
                           Adrian is a mixed farmer from Young NSW, growing canola, winter cereals,
                           pasture production and merino sheep. Adrian has implemented precision
                           agriculture on his own farm, while also assisting other farmers, agriculture
                           supply industry and agriculture technology providers.
                           He has been involved with the supply and fitment of numerous precision
                           agriculture related hardware and sensors. He has always endeavoured
                           to ensure that there was practical use of precision agriculture equipment
                           that resulted in a financial or agronomic gain to the farmer.
  Adrian has written and delivered training course in precision agriculture for government, agriculture
  colleges and private industry. He is still actively involved in learning about new technology and
  techniques of precision agriculture with the goal of developing inventive training programs that will
  result in adoption of precision agriculture by farmers.

 Contact details: Website: www.agtrak.com.au
                  Phone: 0488 438 210
                  Email: adrian@jmajprecision.com

                                       2021 GRIFFITH GRDC FARM BUSINESS UPDATE

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Notes

        2021 GRIFFITH GRDC FARM BUSINESS UPDATE

                      44
Notes

        2021 GRIFFITH GRDC FARM BUSINESS UPDATE

                      45
NVT
 CANOLA | WHEAT | BARLEY | CHICKPEA | FABA BEAN | FIELD PEA |
 LENTIL | LUPIN | OAT | SORGHUM

 Long Term Yield Reporter
 New web-based high speed Yield Reporting tool, easy-to-use means of accessing
 and interpreting the NVT Long Term MET (Multi Environment Trial) results.

                                                            http://app.nvtonline.com.au/

 Crop Disease Au App                                 Long Term Yield App
                         Access to current disease           Easy access to the analysed
                         resistance ratings &                NVT Multi Environment
                         disease information.                Trial (MET) data.

 www.nvtonline.com.au
NVTapps_A4_1811.indd 1                                                             9/11/18 1:54 pm
Machinery investment: What works for
your business?
Ben White
Kondinin Group

   Key Messages:
    Every business is different, but benchmarks can help to provide perspective.
    Machinery investment levels are generally commensurate with cropping turnover.
    Ratios of seeding / spraying / harvesting machinery investment vary geographically.
    Machinery plant investment also needs to factor repairs and maintenance, skilled labour inputs
     and contracting relative to total cropping income.
    The national average benchmark for TPLM+C : Cropping income = 0.34

Figure 1. National frequency of ratios of total plant, labour, maintenance and contracting (TPLM+C) to total
gross farm income in Australian cropping enterprises (National: n=411)

Introduction
   Working with Cussons Media, Farmanco, Agripath and Pinion Advisory, Kondinin Group collated
machinery ownership data from more than 400 farmers across Australia to gauge machinery investment
levels relative to business turnover.
  A booklet produced for GRDC contains thirty case studies to illustrate ownership models and change-
over triggers as well as survey data for specific to cropping Agro-Ecological Zones (AEZ’s).

                                        2021 GRIFFITH GRDC FARM BUSINESS UPDATE

                                                      47
Overview
  Detailed financial figures and data from 480 farmers nationally was probed to provide a detailed analysis.
This was combined with case studies of 30 farmers spread nationally and representative of the spectrum of
data collected. Points to note include;
  • Average cropping income by GRDC region varied from around $1.4m in the South to $2.4m in the West
    with the Northern region coming in at around $1.6m.
  • Previous studies of machinery investment levels had not included farm labour, contracting, repairs
    and maintenance.
    Including these figures ensures the data are not skewed by investment in additional repairs and
    maintenance for older equipment, or additional skilled labour to operate lower cost and lower capacity
    equipment.
  • A standard depreciation rate of 10 per cent was applied across equipment unless the fleet of
    equipment was very new. While this can vary over the lifetime of the machine, across the thousands
    of machines in the survey data, this depreciation figure is around the average according to farm
    management consultants.
   When making machinery investment decisions, evaluate the financial impact the investment will have. For
technology investments, work on the return on capital for the technology. Section control is a good example
of where technology can pay for itself depending on individual circumstances.
   For other equipment, maintain knowledge of current market values and utilise the known ratio of 0.34
investment to income to determine if your farm is undercapitalised or overcapitalised with farm machinery.

  My follow up questions for the speaker;

Why working on this could be great for your farming business
  • Machinery investment decisions are usually big decisions which take into account not just the
    financial implications, but also the maintenance, service and backup as well as human capital costs
    to the business.
  • Comparing farm investments in machinery to other farms in the area can provide a perspective on
    relative machinery outlay and provide guidance for benchmark investment levels.
  • Reading case studies of the approach other farmers take can be useful in making decisions.

                                        2021 GRIFFITH GRDC FARM BUSINESS UPDATE

                                                      48
Self-evaluation
  Are you comfortable with your current levels of investment in machinery? Y / N

  Why? / Why not?

  Do you know your TPLM+C and average long term income figures? Y / N

  •   If yes, where do you sit relative to the national average investment ratio of 0.34?

      Below                                       Similar to                                Above

  •   If no, and you want to work on this in your business, calculate your TPLM+C and see how it compares
      to the benchmark.

  What machinery or technology can we invest in next to improve our business?

We want to work on this in our business, what should we do next?
  Answer the questions:
  • What is the current market value of your machinery fleet?
  • What is your total long term cropping income?
  • Where do you sit relative to the 0.34 Investment : Income ratio?
  • Is there technology available that will provide a financial benefit to your farm business?

                                         2021 GRIFFITH GRDC FARM BUSINESS UPDATE

                                                       49
Our First Action

  Our Second Action

Want to learn more, here are some suggestions;
 • Keep an eye out for the GRDC booklet on farm machinery investment that includes 30 case studies
   from across Australia.

Acknowledgements
 Thanks to Primary Business, Farmanco, Agripath and Pinion advisory and Cussons media for their
 assistance. In addition to the 30 farmers who were interviewed, we would like to thank the 450 farmers
 who provided data for the study.

Useful resources
 ORM (2016) GRDC Farm Business fact sheet: Western Region, Cost effective investment in machinery
 www.grdc.com.au/__data/assets/pdf_file/0014/231611/grdc_fs_costeffectiveinvestment_lr.pdf.pdf
 DPIRD, Alexander and Hagan (2015) Machinery purchasing decision support for broadacre growers
 www.agric.wa.gov.au/sites/gateway/files/Machinery%20purchasing%20decisions%20support%20for%20
 broadacre%20growers.pdf
 Mudge, B (2013) Analysing the economics of machinery purchases. GRDC Ground Cover, Iss 104.
 www.grdc.com.au/resources-and-publications/groundcover/gc104/analysing-the-economics-of-
 machinery-purchases

                                      2021 GRIFFITH GRDC FARM BUSINESS UPDATE

                                                    50
ORM. Patrick Redden (2013) Machinery replacement decisions. GRDC Ground Cover, Iss 105.
www.grdc.com.au/resources-and-publications/groundcover/ground-cover-issue-105-july-august-2013/
machinery-replacement-decisions
ORM (2013). GRDC Farm Business Management Fact Sheet: Southern Region, Farm Business Risk Profiles
www.grdc.com.au/__data/assets/pdf_file/0023/170348/grdc_fs_fbm-attitude-capacity-for-risk_low-res-
pdf.pdf.pdf
ORM (2014) GRDC Farm Business Management Fact Sheet: Southern Region, Machinery Investments and
costs
www.grdc.com.au/__data/assets/pdf_file/0015/152412/grdc_fs_fbm-machinery-investment_low-res-pdf.
pdf.pdf
Farmanco (2016) Profit Series 2015/16. Farmanco
Kirk, G (2013) How to farm profitably in the eastern wheatbelt. Planfarm
Iowa State University (2015), Estimating Farm Machinery Costs
www.extension.iastate.edu/agdm/crops/pdf/a3-29.pdf
Iowa State University (2015), Replacement Strategies for Farm Machinery
www.extension.iastate.edu/agdm/crops/html/a3-30.html
Herbert, A (2017) An International Benchmarking Comparison of Australian Crop Production and
Profitability, Agrarian Management
Sands, R (2013) How is your Farming System Performing? Liebe Group, Farmanco
Sands, R (2014) Financial Ratios and Indicators – The Critical Numbers, Farmanco Management
Consultants
Redden, P (2013) Dollar$ and $en$e, Ground Cover, July/August 2013 pg33, GRDC Research Code
ORM00004
Mudge, B (2013) How much Machinery is too Much? Ground Cover, Iss 107, GRDC Research Code
ORM00004
Alexander, T (2013) Farm Business Management, Ground Cover Supplement, Nov-Dec 2013 Iss 107
Langemeier, M (2014) Crop Machinery Benchmarks, Purdue Agricultural Economics Report, pg5
Edwards, W (2015) Replacement Strategies for Farm Machinery, Ag Decision Maker, 641-732-5574
White, B, Warrick, C, (2017) Machinery investment and replacement options for growers in the Kwinana
West RCSN port zone
www.grdc.com.au/replacing-machinery

                                      2021 GRIFFITH GRDC FARM BUSINESS UPDATE

                                                    51
More about Ben . . .
                         Ben is an agricultural engineer, Kondinin Group’s research manager and
                         editor of Farming Ahead magazine and, as an independent consultant, is
                         a member of the GRDC stored grain extension team.
                         Based in Western Australia, Ben comes from a family farm in the New
                         England region of northern NSW. Since completing his engineering studies
                         at the University of Southern Queensland, Toowoomba, Ben has worked
                         predominantly for the Kondinin Group for over 20-years.
Ben has extensive experience in delivery of research and has expertise in the areas of farm
machinery investment, sheep handling and livestock infrastructure, farming technology and
communications, grain storage, precision farming, engine technology, harvesting, seeding and
spraying equipment.

Contact details: 613-619 Wellington St, Perth WA 6000
                 www.farminghead.com.au
                 0407 941 923
                 ben@kondinin.com.au
                 Twitter: @1800weevil

                                   2021 GRIFFITH GRDC FARM BUSINESS UPDATE

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Notes

        2021 GRIFFITH GRDC FARM BUSINESS UPDATE

                      53
LOOK AROUND YOU.
1 in 5 people in rural Australia are currently
experiencing mental health issues.

The GRDC supports the mental wellbeing of Australian grain growers and their
communities. Are you ok? If you or someone you know is experiencing
mental health issues call beyondblue or Lifeline for 24/7 crisis support.

beyondblue                                                                                        Lifeline
1300 22 46 36                                                                                     13 11 14
www.beyondblue.org.au                                                                             www.lifeline.org.au

Looking for information on mental wellbeing? Information and support resources are available through:
www.ifarmwell.com.au An online toolkit specifically tailored to www.rrmh.com.au Rural & Remote Mental Health run workshops
help growers cope with challenges, particularly things beyond their control (such     and training through its Rural Minds program, which is designed to raise mental
as weather), and get the most out of every day.                                       health awareness and confidence, grow understanding and ensure information is
                                                                                      embedded into agricultural and farming communities.
www.blackdoginstitute.org.au                          The Black Dog Institute is
a medical research institute that focuses on the identification, prevention and       www.cores.org.au               CORESTM (Community Response to Eliminating
treatment of mental illness. Its website aims to lead you through the logical steps   Suicide) is a community-based program that educates members of a local community
in seeking help for mood disorders, such as depression and bipolar disorder, and      on how to intervene when they encounter a person they believe may be suicidal.
to provide you with information, resources and assessment tools.
                                                                                      www.headsup.org.au                     Heads Up is all about giving individuals and
www.crrmh.com.au                  The Centre for Rural & Remote Mental Health         businesses tools to create more mentally healthy workplaces. Heads Up provides
(CRRMH) provides leadership in rural and remote mental-health research, working       a wide range of resources, information and advice for individuals and organisations
closely with rural communities and partners to provide evidence-based service         – designed to offer simple, practical and, importantly, achievable guidance. You
design, delivery and education.                                                       can also create an action plan that is tailored for your business.

Glove Box Guide to Mental Health                                                      www.farmerhealth.org.au                    The National Centre for Farmer Health
The Glove Box Guide to Mental Health includes stories, tips,                          provides leadership to improve the health, wellbeing and safety of farm workers,
and information about services to help connect rural                                  their families and communities across Australia and serves to increase knowledge
communities and encourage conversations about mental                                  transfer between farmers, medical professionals, academics and students.
health. Available online from CRRMH.
                                                                                      www.ruralhealth.org.au                   The National Rural Health Alliance
                                                                                      produces a range of communication materials, including fact sheets and
                                                                                      infographics, media releases and its flagship magazine Partyline.

P Level 4 | 4 National Circuit, Barton ACT 2600 | PO Box 5367, Kingston ACT 2604 T +61 2 6166 4500 F +61 2 6166 4599 E grdc@grdc.com.au
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